2017 eoy guide - thesaurus software · thesaurus payroll manager – 2017 end of year guide 1...

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ThesaurusPayrollManager–2017EndofYearGuide 1

ThesaurusPayrollManager2017EndofYearGuide

Thisisa9stepguidetothegeneralprocessrequiredinordertomeetyouremployerendofyearobligationsinlinewithRevenuerequirementsforthetaxyearending31stDecember2017.Thisdocumentisforgeneralguidanceandreferencepurposesonlyandisnotintendedasacompleteandcomprehensiveguideastheremaybeadditionalorvaryingprocessesrequireddependantonyourspecificbusinessneedsand/orreportingrequirements.

Contents Page

1. Completethepayrollfor2017 2

2. Issuefinalpayslipstoemployees 3

3. PrepareandsubmitthefinalP30 4

4. Complete2017medicalinsurancetaxreliefrequirements 6

5. Reviewendofyearreports 7

6. Reviewemployer’sP35liability 9

7. PrepareandsubmittheROSP35 11

8. IssueP60stoemployees 19

9. Datestoremember 21

1. Completethepayrollfor2017

Allpayrollfrequencies,forwhichyouoperatepayroll,i.e.weekly,fortnightlyand/ormonthly,shouldbecompletedpriortorunninganyendofyearRevenuereturns(P35)orissuingendofyeardocumentstoemployees(P60).Allweekly,fortnightlyandmonthlypayrollwhicharesetupand,forwhichyoufinalisepayslips,withinThesaurusPayrollManagershouldbecompletedforallpayperiods,i.e.week52/53,fortnight26,month12,whichhavea2017paydate,onorbefore31stDecember2017.Updateallpayperiodsfor2017Tocompletethesepayperiodsyoushouldfinalisethepayslipsforthelastpayperiodwhichhaveapaydateonorbefore31stDecember2017throughthePayslips>UpdatePayslips>Menu.

Enterthepaydateapplicabletothefinalpayperiodforthispayfrequencywithintheyear.

Week53Whenshouldanemployeruse“Week53”inthepayroll?Thishappenswhenapaydayfallson31stDecemberor,inaleapyear,on30thor31stDecember."Week53"occurswhentherearefifty-threeweeklypaydaysintheyear,employerspayingwagesonaSundaywillhave53paydaysin2017.ThesaurusPayrollManagerwillalwaysofferaWeek53optionsubsequenttothecompletionofWeek52.However,itshouldonlybeused(i.e.payrollinputandpayslipsfinalisedforweek53)if,oncompletionofweek52,thereisasubsequentpayperiodwithinthesametaxyear,inthiscasewitha2017paydate.Whatactionshouldanemployertake?ThesaurusPayrollManagerautomaticallyappliesanyUSCcutoffpoints,employee’staxcreditandcutoffpointsonaWeek1basisintheweek53payroll,asperRevenueregulations.Pleasenote:ifanemployee'snormalpaydayhaschangedduringthistaxyearortheprecedingtaxyear,theadditionalUSCcutoffpointsdonotapply.YouwillneedtoinstructthesoftwareiftheadditionalUSCcutoffpointsarenotapplicabletoanemployee.TopreventtheadditionalUSCcutoffpointsbeingallocatedgotoEmployees>Add/AmendEmployees>Selecttheemployee>ClicktheRevenueDetailstab>Ticktoindicateexemptions/exclusionsapply>ticktoexcludetheemployeefromtheweek53USCconcession>updatetosavethechange.

2.Issuefinalpayslipstoemployees

Oncompletionofthefinalpayrollforeachfrequencythatyourunpayroll(i.e.monthlyand/orweekly/fortnightly)issuethefinalpayperiodpaysliptoeachemployee.

Payslipscanbeprintedoremailed,asperyourrequirements.

3.PrepareandsubmitthefinalP30

Oncompletionofthefinalpayperiodfor2017,preparetheP30reportandsubmitthefinalP30forthetaxyear.PreparetheP30reportSelectthesameP30reportasyouhaveusedtodate,eithertheP30byweeknumberortheP30bydate.

ReviewtheP30totalsforthefinalP30period,i.e.Month/Quarterending31stDecember2017.

SubmittheP30returnfortheperiod,arrangingpaymenttoRevenueinaccordancewiththeP30deadline.

UpdatethePaymentRecordWithinThesaurusPayrollManager,updatetheP30paymentrecord,withtheamountanddateofthefinalP30payment.Thesoftwarewillaccepta2018datewithinthisutility.ThiswillhelpyoureconcileanyendofyeardifferenceswithRevenuerecordsortoidentifyanybalancepayableorreclaimablefromRevenue.

ImportantNote:ThedatethatRevenuedebitthefinalP30paymentfromyourbankaccountmaybeaftertheP35submissiondate-thereforethisamountmayshowasoutstandingwhensubmittingyourP35.ItisimportanttobeawareofthedatevariancebetweentheP35submissionandfinalP30debitdatesothatitisnotpaidagainatthetimeofsubmittingtheP35.

4.Complete2017MedicalInsuranceTaxReliefrequirements

Thetaxreliefonmedicalinsurancepremiumsiscappedat€1,000peradultand€500perchild.Wherepremiumsexceedthesethresholds,theexcesswillnotqualifyfortaxrelief.

2017P35requirement

Whereanemployerpaysmedicalinsurancepremiumsonbehalfofanemployee,employersarerequiredtoincludetheportionofthemedicalinsurancepremiumthatiseligiblefortaxreliefforeachemployee,onthe2017P35.

Medicalinsuranceproviderswilladviseemployersoftheamountsforeachemployee.ThisinformationmustbeenteredforallapplicableemployeesintoThesaurusPayrollManagerpriortosubmittingtheP35.

ImportantNote:ThesaurusPayrollManagerwillnotprepareaROSP35untilthisrequirementismet.Thisonlyaffectsemployerswithemployeesonthepayrollforwhomamedicalinsurancebenefitispresentinthe2017payroll.

UpdateMedicalInsuranceEligibleforTaxRelief

• FromtheUtilitiesmenu,chooseInputMedicalInsuranceEligibleforTaxRelief

• Allemployeeswillbelisted,choosethefirstemployeerecord,forwhomamedicalinsurancebenefitinkindexists,fromthislisting.

• EntertheTaxReliefatSource(TRS)/medicalinsuranceeligiblefortaxreliefvalue,asadviseddirectlybythecompany’smedicalinsuranceprovider.ThesaurusPayrollManagerwillautomaticallyincrementanyTRSfigureenteredtogivetheMedicalInsurancePremiumwhichiseligiblefortaxreliefwhichistheRevenueP35requirement.Thisamountcannotexceedthetaxablepremiumpaidbytheemployer,i.e.thevalueofthebenefitthattheemployeehasbeentaxedonthroughthepayrollyeartodate(aswillbeshownfromthebenefitinkindscreen).

• SelectUpdatetosavetheentryandproceedthroughtheemployeelistinguntilallrelevantemployeerecordshavebeenupdated.

5.Reviewendofyearreports

ReviewtheyearendreportsinThesaurusPayrollManagertoensurethatyouaresatisfiedwiththefinalpayrollinformationandfigurespriortoproceedingtotheP35submission.

AccessYearEndP35report

• GototheP35/P60smenu

• SelecttheP35spreadsheet/filecopy

• Thisreportgivesafulllistingofallemployeesemployedwithinthetaxyearforallpaymentperiods(weekly/fortnightlyandmonthly).

ReviewtheP35report

Theemployee’swages,asprocessedeachpayperiod,areaccumulatedanddisplayed.ItisthisinformationthatwillbetransferredtotheP35fileforROSsubmissiontofileyourannualwagereturn.

• Performaseriesofpayrollchecks,suchas:

a) Allemployees/directorsemployedduringtheyeararelisted

b) Confirmthefiguresenteredonthepayrollarecorrect

c) EachemployeehasaPPSnumberpresent,intheabsenceofaPPSnumberthedateofbirthandfulladdressisrequired(wheretherehasbeenadeductionofLPT,aPPSnumberismandatory)

• Ifanyemployeehashadmultipleemploymentsduringthetaxyear,ThesaurusPayrollManagerwillautomaticallymergesuchrecordswhenpreparingtheP35forROSasperRevenuerequirements.

CorrectPayrollErrors

Ifthereareanyerrorsoromissionsonthisreport,theseshouldberectifiedbeforeproceedingtoprepareandsubmittheP35.

TheReverseUpdatefeaturemaybeusedtorevisehistoricalpayrollifappropriatetodoso.

Forinformationwhichisomitted,suchasPPSnumber,address,dateofbirthetc.,simplyupdatetheemployeerecordinAdd/AmendEmployees.

6.Reviewemployer’sP35liability

PriortosubmittingtheP35,thepaymentstatusoftheemployershouldbeestablished:

a) IsthereabalancepayabletoRevenueonsubmissionoftheP35inadditiontotheperiodicalP30paymentsmadeonaccount?or

b) Hastheemployeroverpaidonaccount,thereforeinareclaimableposition?or

c) IstherenilduetoRevenue?

PleasenoteyoushouldreconcilepaymentsmadetoRevenueasperyourROSaccount.ThiscanbedonebypreparingaROSstatementof2017paymentsmadeonaccount.

ToprepareaROSstatementof2017paymentsmadeonaccount:

• CheckyourP30periodicalpaymentsmadeonaccounttoRevenueforthetaxyear2017,byloggingintoyourROSaccountandselectingRevenueRecord

• FromtheOPTIONSmenu(onthelefthandside)choosetoviewPayments

• SelecttheTaxTypePAYE-EMPandthetaxyear2017

• Allpaymentsmadeforthetaxyearwillbedisplayedonscreen

IncludependingpaymentsarrangedviaRDIorpaidbychequeOnsubmittingtheDecemberP30,aROSDebitInstruction(RDI)isarrangedtosettlepaymentfortheP30.Thisisnotusuallydebitedfromthebankaccountuntilthe23rdofthesubsequentmonth,i.e.23rdJanuary2018.

WhenpreparingtheRevenuerecordofpaymentspriorto23rdJanuary2018,theDecemberpaymentmaynotbeincludedasthedebitwillnotbemadefromyourdesignatedbankaccountuntil23rdJanuary2018.Ifthisisthecase,adjustyourtotalpaymentsmadetoRevenuetotakeaccountofthisinreconcilingtotheThesaurusPayrollManagerP30totals.Likewise,ifyouhavepaidbycheque,thechequemaynotyethave

beenpresentedatthebank.Ifthisisthecase,adjustyourtotalpaymentsmadetoRevenuetotakeaccountofthisinreconcilingtotheThesaurusPayrollManagerP30totals.

PreparetheP30reportwithinThesaurusPayrollManager

PreparetheP30reportinThesaurusPayrollManager(asperStep3above).

ComparethepaymentsmadeonaccounttoRevenuetotheP30totalsfor2017asshownontheThesaurusPayrollManagerP30report.

AnydifferencesshouldbeidentifiedandinvestigatedpriortosubmittingtheP35.

WhywouldtherebeataxbalancedueontheP35?

• IfyouhavenotsubmittedtheP30sinaccordancewiththeP30reportascomputedbyThesaurusPayrollManagerandhavepaidaloweramount

• IftherewasabasicerrorintheamountsenteredwhencompletingaROSpaymentinstruction,forexample,PAYE€2,389.00enteredinsteadof€3,289.00

• If,duringthetaxyear,payrollperiodswerere-openedandthepayrollwasamendedforaperiodforwhichtheP30wasalreadysubmitted.TheamendedpayrollcreatedagreaterP30liabilityfortheperiodwhichwasn’taccountedfor.

• IfyoutransferredyourpayrollfromamanualoranotherpayrollsoftwareproviderinthemiddleofaP30period,theP30submissionmaynothavebeenreconciledcorrectlyduringthetransferprocess.

WhywouldtherebetaxreclaimableontheP35?

• IfyouhavenotsubmittedtheP30sinaccordancewiththeP30reportascomputedbyThesaurusPayrollManagerandhavepaidahigheramount

• IftherewasabasicerrorintheamountsenteredwhencompletingaROSpaymentinstruction,forexample,PAYE€2,159.00enteredinsteadof€1,259

• If,duringthetaxyear,payrollperiodswerere-openedandthepayrollwasamendedforaperiodforwhichtheP30wasalreadysubmitted.TheamendedpayrollcreatedalesserP30liabilityfortheperiodwhichwasn’taccountedfor.

• IfyoutransferredyourpayrollfromamanualoranotherpayrollsoftwareproviderinthemiddleofaP30period,theP30submissionmaynothavebeenreconciledcorrectlyduringthetransferprocess.

7.PrepareandsubmittheROSP35

TheP35deadlineisthe15thFebruary2018(or46daysaftercessationofthebusiness).FailuretosubmitaP35annualreturnbythisdatemayresultintheimpositionsofpenaltiesandinterestbyRevenue.Theextendeddeadline,ifyoubothfileandpaythroughROS,is23rdFebruary2018.Onceyouhavereviewedallendofyearreportsandyouaresatisfiedthatyourpayrolliscompleteandconcisefor2017thenproceedtopreparingandsubmittingthe2017ROSP35.

PreparetheROSP35

• SelecttheP35/P60smenu

• FromthismenuchooseROSP35

• Ensureallvalidationissueshavebeenresolved

• Entercompanyaddress,telephonenumber&contactname(optional)

• SelectContinue

• ThepayrollsoftwarewillautomaticallysavetheROSP35filetoC:\ROS\P35L(Ifyouwishtosavethe

ROSP35toadifferentlocation,clickBrowse>SelectthenewlocationtosavetheP35to>selectOK)

• SelectPrepareFile

• YouhavesuccessfullypreparedyourROSP35file.TheROSP35filewillsavewiththe-17.p35

indicatedattheendofthefilename.

SubmittheROSP35

LogintoyourROSaccountatwww.revenue.ietosubmittheP35SelectLogintoROS.YouwillberedirectedtotheROSloginpageautomatically.

• SelectyourROSCertificate

• EnterPasswordassociatedwiththatcertificate

• SelectLogintoROS

ROSwillautomaticallybringyoutotheMyServicessectionofyouraccount.

• AstheP35hasbeencreatedbyThesaurusPayrollManager(i.e.offline)youarechoosingtoUploadForm(s)CompletedOff-line

• SelectP35Lfromthedropdownlistofforms

• ClickUploadReturn

• YoumustnowselecttheP35fileforUpload

• SelectAddFile(s)(ROSwillautomaticallyopenthedefaultdirectoryofC:\ROS\P35L,ifyouhavesavedthefiletoanotherlocationthenbrowsetothatlocation)

• Selectthe2017P35file,-17.p35file-e.g.6005J-17.p35

• SelectOpen

• EntertheassociatedPassword

• SelectUploadFile(s)

TheP35L,P35LT,P35LFandP35DeclarationwillalldisplayonscreenasreaddirectlyfromtheP35fileuploadedonthepreviousscreen.

TheP30PaymentDetailstotalsallpaymentssubmittedfor2017,thesefiguresaretakendirectlyfromyouraccountwithRevenueandnotfromthepaymentrecordheldinThesaurusPayrollManager.

TheP35summarywillshowifyouhaveabalanceoutstanding,anilbalanceorifyouareinarefundsituation.Thiscalculationistakenfromthepaymentsmadeonaccount(viaP30)andthetotalliabilityfortheyearfromtheP35formwhichhasbeenuploaded.ToproceedwiththeP35submission,youmustchooseifyouwillmakeapaymentoftheROSpromptedamount*outstandingandenterpaymentdetailsatthispointwiththeP35submissionorFilereturnonly(ifyouareinarefundpositionoryouwishtomakepaymentatalaterdateorRevenuehavenotreflectedthelastP30payment).*IftheamountdueisequaltotheDecemberP30,forwhichpaymenthasalreadybeenarranged,thendonotrepeatpaymentatthisstage.MakepaymentwithsubmissionIfyouchoosetomakeapayment:

• SelectPaymentMethodi.e.Debitcard,RDI(ROSDebitInstruction)

• Theamountsduewillbedisplayed

• Enterthetotalamountofthepayment

• Enterthedateofpayment,ifpayingbyRDIthiscanbesetto23rdFebruary2018.

• SelectNext

Ifyouchoosetomakeapayment,thenextstepwillbetoConfirmPayment

• ConfirmfileuploadbyenteringyourPassword

• SelectSign&Submit

• Anacknowledgementconfirmationnumberwilldisplay,pleaseretainthisnumberintheeventofaqueryarisingrelatingtoyoursubmission

• AnacknowledgementofyourP35returnwillalsobesenttoyourROSInbox

FileReturnOnly(NoPayment)

• SelectFilereturnonlytomakeaP35returnwithNOpayment-UsethisoptionifyouwishtoreturnaP35withoutpaymentorifyouhaveNOfurtherpaymenttomake.

• SelectNext

• Confirmthatyouwishtofileareturnonly

• ConfirmfileuploadbyenteringyourPassword

• SelectSign&Submit

• Anacknowledgementconfirmationnumberwilldisplay,pleaseretainthisnumberintheeventofaqueryarising

• AnacknowledgementofyourP35returnwillalsobesenttoyourROSInbox

8.IssueP60stoemployees

AP60isanemployee'scertificateofincomeanddeductionsforthetaxyear.P60sareonlyissuedtoemployeeswhoarestillinyouremploymentasat31stDecember.Onlyonecopyisrequiredtobeissuedtoeachemployee.

TheP60sshouldbeissuedtoallemployeesbythe15thofFebruary.

ToPrint/EmailP60s

SelecttheP35/P60smenu.

• SelectindividualemployeesbysimplyclickingoneachemployeenameforwhomyouwishtoprintaP60for.AlternativelychooseSelectAlltoprint/emailP60sforallemployees.

• SelectPrint/EmailfromthePrint/Emailoption

PleasenoteRevenueadvisethattheP60needonlybe“madeavailable”toemployees,thereforeissuingP60sbyemailisanacceptableRevenuecompliantformat.

RevenuehasdiscontinuedtheprovisionofP60stationery.AllpayrollsoftwareprovidersarepermittedtoprinttheP60templatetoblankA4paper.ThesaurusPayrollManagerwillprintP60sinaccordancewithRevenueguidelines,seeexample:

9.Datestoremember

2018EmployeeStatements

IssueP60s 15thFebruary2018

2018RevenueReturns

Paper P35SubmissionDeadline 15thFebruary2018

P35PaymentDeadline 15thFebruary2018

ROS P35SubmissionDeadline 15thFebruary2018

P35PaymentDeadline 15thFebruary2018

ROS P35SubmissionDeadline 23rdFebruary2018(Pay&File)

P35PaymentDeadline 23rdFebruary2018

2017 eoy guide - thesaurus software · thesaurus payroll manager – 2017 end of year guide 1...

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